Imaginetics LLC acquires Azmark Aerosystems LLC
Imaginetics LLC, a manufacturer of precision metal components and assemblies for the aerospace industry, announced on October 21, 2015 it has acquired Azmark Aerosystems LLC, a manufacturer of hard metal components for the aerospace and defense industries. Imaginetics is a portfolio investment of Kidd & Company, an Old Greenwich, CT-based private investment firm and Centerfield Capital Partners, a mezzanine and equity investment firm located in Indianapolis, IN.
Located in Gilbert, Arizona, Azmark has developed an outstanding reputation with its customers based upon its leading technical capabilities, high quality standards, on-time performance and customer service. The Company’s current customer base includes Honeywell, Boeing Defense Systems, Raytheon, and Gulfstream, among others.
“We are impressed by the breadth of the Company’s machining capabilities and how well it complements the capabilities of Imaginetics. This acquisition will allow us to expand our ability to serve our customers and offer them a single-supplier solution for a variety of complex manufacturing needs,” said Scott Strong, President & CEO of Imaginetics. “We are excited to build on the terrific foundation created by Azmark and continue to grow Imaginetics by serving the increasing demands of its customer base.”
“We expect to derive a tremendous amount of benefit with the addition of Azmark to the Imaginetics family. The acquisition will broaden our capabilities and allow us to function more as a unified, ‘one-stop’ supplier to our customers, offering a full suite of products and services across metal fabrication, hard and soft metal machining and assembly. Additionally, we will broaden and diversify our customer base, establish a second geographic presence in another important aerospace market and allow the two companies to share best practices,” said Jim Levine, Chairman of Imaginetics.
“On behalf of Kidd & Company and our partners at Centerfield Capital, we are very excited about the recent acquisition. Azmark has built a great reputation and has talented personnel. With the added strength of Imaginetics, we feel the combined business is positioned to enjoy strong growth by better serving the needs of its long term customers,” added Donald Hardie, a Kidd and Company partner and member of the Board of Directors.
BMO Harris Bank N.A. provided the debt financing supporting the acquisition.